Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

News archive

This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

04/07/2012 16:02:33

Britons wasting £17m a year

New research has revealed that despite the current financial crisis, Britons are wasting an average of £28.90 each per month with frivolous spending.

Bright Grey's Financial Safety Net Report reveals that men are worse offenders than women, while one in 20 people fritters away £100 per month.

There were also distinct regional differences, with those in Newcastle found to be most wasteful with their cash - averaging £43.90 each per month down the drain.

Many of the most wasteful cities were also the places where the greatest amount of cash is carried around, with a UK average of £27.40 contained in wallets and purses.

Roger Edwards, proposition director at Bright Grey, urged people to adopt better wealth management practices.

"It is somewhat alarming that during a period when people fear for their financial future, the average person is still wasting nearly £30 a month through simply not taking care of their cash or spending it unwisely," he said.

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